China, South Korea Drive EV Battery Innovation: Breakthroughs In Stability, Fire Safety
Rivian falls to over a four-month low as production disruptions lead to lowered delivery expectations.
Rivian fell 6.3% in pre-market trading on Friday, dropping to a low point of over four months. The electric auto manufacturer stated that the company is experiencing production disruptions, leading to a downward revision of its full-year delivery expectations. As of the third quarter ending on September 30th, the company delivered 10,018 autos, a 35.6% year-on-year decrease, with production dropping by 19.3% to 13,157 autos. The company mentioned that the production disruptions were caused by a shortage of a shared component on the R1 and RCV model platforms. In a statement, the company expressed, "The impact of this supply shortage began in the third quarter of this year and has become more pronounced in recent weeks."
Rivian's Stock Dives After Production Disruption Leads to a Deliveries Guidance Cut
Analyst: Recommends buying Tesla stocks before the "significant" bullish news arrives.
Tesla Inc.'s stock price has been soaring in September, and Baird analyst Ben Kallo expects that after the company announces its car delivery data next week, the stock price will further rise. He anticipates that about a week after Tesla announces its car delivery data, Tesla's 'self-driving taxi release day' (Robotaxi Day) will present an even greater potential bullish factor for the stock. 'We believe that the recent situation is bullish, we are bullish on Tesla's delivery data (expected to be released on October 2), as well as bullish on Tesla's self-driving cars.'
Buy Tesla's Stock Ahead of These 'Significant' Positive Catalysts, Analyst Says
DoE Awards $3B for 25 Projects to Boost U.S. Battery Production
